Should I Work With My Family For My Real Estate Business? – Andrea Shearer
On this episode of The Closing Table, we sat down with Andrea Shearer!
To watch the full episode, check it out on YouTube below. In the meantime, here’s a summary of the conversation…
Here’s what you missed from Andrea Shearer…
The conversation began with Andrea introducing herself as more than just a real estate professional. She highlights her roles outside the real estate world, emphasizing her identity as a wife, mother, grandmother, sister, daughter, and a good neighbor.
As a real estate professional, Andrea’s journey spans over nine years. Initially, she ventured into the industry as an individual, driven by a long-held passion. Despite this passion, she had hesitated to leave the corporate world. Her career in finance, working in banks and credit unions, allowed her to develop skills in loans and mortgage lending, which later became valuable assets in her real estate career. In 2016, she took a significant step by joining the training program offered by Berkshire Hathaway Services Michigan Real Estate. This decision allowed her to rediscover her passion for guiding and training new agents.
Andrea’s early years in real estate were marked by notable achievements. She consistently set ambitious goals for herself and successfully met them year after year. This success, combined with her newfound passion for mentoring new agents, became a defining aspect of her career. Having been fortunate to have great mentors herself, Andrea emphasizes the importance of finding mentors for those interested in entering the real estate industry.
In 2019, Andrea’s cousin entered the real estate field, and by 2020, they joined forces to create their team, aptly named “Real Estate Cousins.” This dynamic team, which includes three additional members and welcomes more, represents a collaborative and familial approach to real estate.
Regarding their market, Andrea and her team are licensed in the state of Michigan, enabling them to cover various areas within the state. They also take pride in building strong relationships with realtor referral partners across the United States. Their primary office is situated in Fenton, Michigan, approximately 30 minutes south of Flint and an hour north of Detroit, strategically positioned to serve clients in various regions. They conduct a significant amount of business in locations such as Lansing, Livingston County, Oakland County, and Lapeer. Despite the challenges presented by the current market conditions, characterized by limited inventory and fluctuating interest rates, Andrea and her team view these hurdles as opportunities. They are committed to assisting clients in overcoming these challenges and understand the seasonal fluctuations that are inherent in the real estate market.
In sharing her experiences, Andrea underscores the unpredictable nature of real estate and the need to always be prepared. One particular anecdote that stands out involves an unconventional client encounter. She often uses this story to illustrate the importance of readiness in the real estate business. In this memorable incident, Andrea found herself in an unprepared state while waiting at a bus stop with her son. It was a casual morning, with Andrea still in her pajamas, sipping coffee, and sporting disheveled hair. Unexpectedly, her neighbor from across the street approached her and mentioned that they were preparing to sell a rental property. Andrea, taken aback but quick-thinking, humorously asked if she could take a shower first before discussing business.
Moving on to her expertise in negotiations, Andrea emphasizes the critical moments in real estate transactions where negotiations play a pivotal role. These moments include purchase agreements, inspections, and appraisals. She acknowledges that the inspection phase can be particularly challenging due to the emotional attachment of buyers to the property. Often, unfamiliar issues arise, creating tension between the buyer and seller. The key, according to Andrea, is effective communication and collaboration between the seller’s agent, representing her in this scenario, and the buyer’s agent. Finding common ground and solutions is crucial in these situations.
Andrea also delves into her experiences working with family members in real estate transactions. Initially, she had reservations about mixing family and business due to the emotional complexities that can arise. However, as she reflects on her journey, Andrea acknowledges the invaluable support and collaboration of her family in her successful career. She recognizes that, ultimately, the strength of her family relationships has played a significant role in her achievements.
In the spirit of National Preparedness Month in September, the discussion turns to the importance of homeowners being ready for natural disasters, and Andrea shares her insights on this topic. Andrea begins by emphasizing the significance of understanding one’s local area and the potential natural disasters it may face. Being located in Michigan, her market often deals with basement flooding, a common issue in the region. She humorously mentions the local real estate adage that “if you’re in Michigan, your basement has either flooded and been repaired or will flood in the future.” To mitigate this, she advises homeowners to take preventive measures, especially during the spring thaw when frozen ground can lead to flooding. She underscores the importance of ensuring gutter extensions are in place and that gutters are clean.
Shifting gears, the conversation touches on the most challenging aspects of the real estate industry. Andrea believes that the biggest challenge lies in one’s own mindset. Real estate, like many other professions, experiences ups and downs, and adapting to the seasonal nature of the job can be tough. She encourages staying motivated during slower periods, even when not actively engaged with clients. Andrea also highlights the challenge of dealing with a lack of inventory and the need to employ creative strategies like door-knocking, cold calling, and postcard campaigns to create the inventory clients seek.
The conversation wraps up with Andrea reflecting on personal growth and lessons she has learned, she shares her journey of building confidence. She acknowledges that confidence had been a barrier in her previous careers but decided to confront it head-on in her real estate journey. Overcoming this hurdle opened doors and expanded her horizons. She also emphasizes the importance of shifting her mindset in the face of challenges or conflicts, focusing on turning them into positive opportunities. This shift in perspective has been instrumental in her personal and professional growth.
Check out Andrea Shearer:
Facebook: https://www.facebook.com/andrea.t.shearer
Facebook Business Page: https://www.facebook.com/RealEstateCousins
Instagram: https://www.instagram.com/andrea.t.shearer/
Instagram Business Page: https://www.instagram.com/realestatecousins/
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